Do generous welfare states attract less-skilled immigrants? This column says yes, arguing that previous studies, which yielded mixed answers, failed to distinguish between open immigration regimes and those restricting immigration on the basis of skills. Welfare state generosity is found to have a negative effect on the skill composition of immigrants under the free migration regime.

…my nominee is someone whose name may not be familiar to American audiences. He's Fred Goodwin, who until October served as CEO of the Royal Bank of Scotland. Goodwin (here's the Wikipedia entry about him) took the helm of RBS in 2000 and proceeded to turn it into an international powerhouse. Known as "Fred the Shred" for his willingness to cut costs—and jobs—he emerged as Britain's leading banker. He was even knighted in 2004 for services to banking. But the bank, which this summer was Britain's largest, is now neither Royal nor Scottish nor much of a bank. RBS's slogan is "Make it happen." A review of the record shows that Goodwin indeed made it happen. He aced every requirement for a hubristic CEO.

The only long-term solution is to strengthen the civilian politicians who have realised that Pakistan’s past support for jihadist movements has backfired. Pakistan built up the Islamists to put pressure on India and to provide “strategic depth” in Afghanistan. But the biggest threat posed by Pakistani-based Islamist movements is now to Pakistan itself.